• Does the IRS Need a Bigger Budget?

    By Michael Rainey

    The IRS is receiving an extra $320 million to help cover the costs of implementing the Republican tax overhaul, funds that can be used over the next 18 months to assist taxpayers, revise hundreds of...

  • A general view of the U.S. Internal Revenue Service (IRS) building in Washington

    Spending Bill Includes $320 Million for IRS to Implement Tax Law

    By Michael Rainey

    A frequent target of Republican scorn, the IRS has seen its budget cut significantly in recent years. But the spending deal for 2018 boosts the agency’s budget by $196 million compared to 2017, for a...

  • 22. Construction Superintendent

    Who Benefits from ‘Opportunity Zones’?

    By Michael Rainey

    Governors have until today to nominate “opportunity zones” that are intended to bring investment capital and jobs to low-income communities in their states. The GOP tax bill established rules for the...

  • Will Ancient IRS Technology Eat Your Tax Refund?

    By Michael Rainey

    An essential piece of software involved in processing millions of tax returns for the IRS is “old enough to be a grandparent,” reports Nextgov , and officials are worried about what would happen if...

  • Chart of the Day: US Household Income

    By Michael Rainey

    The Congressional Budget Office released a new report Monday on the distribution of income in the U.S. Ignoring means-tested transfers and federal taxes, the average household income in 2014 was $19,...

  • FILE PHOTO: The U.S. Capitol building is lit at dusk ahead of planned votes on tax reform in Washington, U.S., December 18, 2017.   REUTERS/Joshua Roberts/File Photo

    Fixing the Tax Bill: Errors, Uncertainty and an Opportunity for Democrats

    The GOP tax bill needs some fixing. The massive tax cut, rushed through Congress late last year, includes “a host of errors and ambiguities … that businesses big and small are just now discovering...

  • Computer on fire

    What We're Reading: March 9, 2018

    By The Fiscal Times Staff

    Here's what we have our eye on today: NEWS Rep. Diane Black Pushing for Anti-Abortion Language in Spending Bill – Washington Examiner Omnibus Action Next Week Possible, but Obstacles Still Exist –...

  • The Tax Reform Saga Will Continue

    By Michael Rainey

    Scott Greenberg of the Tax Foundation has a reminder for anyone following the fiscal debate in Washington: “Tax Reform Isn’t Done.” That’s the title of a new paper from Greenberg and the topic of a...

  • Those Tax-Cut Bonuses May Be Fleeting

    By Michael Rainey

    Plenty of questions remain about how workers will ultimately fare from the Trump tax overhaul. The White House has cited a rash of bonus payments from major corporations as proof that workers are...

  • Many Americans Still Aren’t Seeing GOP Tax Cuts in Their Paychecks

    By Michael Rainey

    Some new polls out this week suggest that the GOP tax cuts aren’t making much of difference to many Americans. Half the respondents in a Politico/Morning Consult poll conducted between March 1 and...

Taxes Directory

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